Buying Archive

50 Real Estate Answers

 

Does it matter which way the house is facing?

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Some people prefer front doors that face East or West so the cold North wind doesn’t directly hit the front or back door. Other considerations include the direction your bedroom window faces. If you want to wake up with the sunrise, you’d want your bedroom window facing East. If you sleep in (because you can […]

Should I buy a residential service agreement (i.e. home warranty)?

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Technically termed a “Residential Service Agreement” (RSA), since the word “warranty” has specific legal meaning, a home warranty is a great opportunity for affordable peace of mind. Home warranties are especially beneficial if you end up using them, like any warranty, but even if you don’t make a claim, you can think of it as an insurance policy against […]

What steps do I go through to buy a house?

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Assuming you’ll be obtaining mortgage financing (i.e. not paying cash), here’s a list of steps to buy a house: Financing pre-approval (not just pre-qualification) Searching and visiting properties Submitting an offer(s) and getting a contract Finalizing loan paperwork and financing terms (rate lock) Inspections, appraisal, getting insurance quotes Requesting seller repairs (if necessary and if […]

Do I have to sign an exclusive agreement?

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In order to start visiting houses with an End Zone Realty buyer’s agent, you’ll need to have a pre-approval letter (if purchasing with a mortgage) or a proof of funds letter (if purchasing with cash). You’ll also need to sign a Buyer Broker Service Agreement and some State of Oklahoma and company-specific disclosures. The Buyer […]

Where should I buy a house?

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There are many factors in deciding where to buy, especially when putting down longer-term roots and the financial investment of buying instead of renting. There are qualitative and quantitative decisions to be made, including schools, location, access to transportation, neighborhood association dues, home prices, bedrooms, bathrooms, available financing, and many more considerations. Each person, couple, […]

What is a short sale?

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A short sale is when a seller’s mortgage balance is greater than the proceeds from selling their property. For example, if the outstanding mortgage balance is $97,000, the sales price is $100,000, and the seller’s net proceeds are $90,000 ($7,000 less than the mortgage balance), the Seller has the option to bring $7,000 to the […]

Do I also need an attorney?

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When buying or selling with End Zone Realty, you’re always welcome to have your personal attorney review all documents. We would never advise you against seeking legal advise. However, unlike in other states, an attorney’s involvement is not required. Your title company’s attorney will provide an opinion of title as part of the closing process.

Do you work foreclosures and distressed properties?

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There are several types of distressed properties that may be purchased: Short sales Pre-foreclosures Foreclosures (a.k.a. bank-owned or REOs) Government-owned Corporate-owned We not only know how to best help you with each type of distressed property, but we also know when to advise against certain purchases for your specific scenario. For example, if you’re needing […]

What is a Residential Property Condition Disclosure?

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When an Oklahoma real estate professional is involved in a residential real estate transaction — on the list or sell side — the seller is required to complete the State of Oklahoma’s Property Condition Disclosure form. It must be completed within the past 180 days and completed to the best of the seller’s knowledge. A […]